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PNM'S STIPULATED AGREEMENT FOR DECERTIFICATION OF SAN JUAN UNIT 4 RETURNED FOR FURTHER PROCEEDINGS

 PNM'S STIPULATED AGREEMENT FOR DECERTIFICATION OF
 SAN JUAN UNIT 4 RETURNED FOR FURTHER PROCEEDINGS
 ALBUQUERQUE, N.M., Oct. 6 /PRNewswire/ -- Yesterday, the New Mexico Public Service Commission (Commission) returned Public Service Co. of New Mexico's (PNM) (NYSE: PNM) proposed sale of generating capacity to the city of Anaheim, Calif. to the hearing examiner for further proceedings.
 A stipulated agreement reached earlier in the year between PNM and major intervenors provided for the sale to Anaheim of 50MW of San Juan Unit 4 (Unit 4). The stipulation also requested regulatory decertification of the remaining 80MW of Unit 4 excluded from PNM's rates. In July, a hearing examiner recommended that the Commission modify the agreement to approve only the Anaheim sale, thereby retaining jurisdiction over future transactions for the remaining 80MW.
 In its order, the Commission objected to blanket decertification of Unit 4 and indicated that future requests for decertification must be based on a specific asset sale. The Commission encouraged the participants in the case to reach a settlement focusing on the proposed Anaheim sale.
 The company and Anaheim have previously agreed to close the sale transaction during the last week of December 1992. The company remains committed to finalizing the sale as scheduled.
 -0- 10/6/92
 /CONTACT: Michael Temple, 505-848-2210, Pam Lett, 505-848-4673, or Sam Brothwell, 505-848-2287, all of Public Service Co. of New Mexico/
 (PNM) CO: Public Service Co. of New Mexico; New Mexico Public Service
 Commission ST: New Mexico, California IN: UTI SU:


MC -- DV005 -- 7010 10/06/92 11:08 EDT
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Publication:PR Newswire
Date:Oct 6, 1992
Words:255
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